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ADVANCE ALBANY COUNTY ALLIANCE LOCAL DEVELOPMENT CORPORATION
ALBANY, NY · EIN 854222366 · Form 990 · FY2024 · NTEE J01 · Employment · Medium ($1M-$10M)
revenue
$2.7M
expenses
$1.5M
net assets
$2.0M
employees
13
volunteers
9
program ratio
92%
mission · from form 990

THE EXEMPT PURPOSE FOR WHICH THE CORPORATION IS FORMED IS TO RELIEVE AND REDUCE UNEMPLOYMENT IN ALBANY COUNTY, PROMOTE AND PROVIDE FOR ADDITIONAL AND MAXIMUM ADULT EMPLOYMENT IN THE COUNTY BETTER AND MAINTAIN ADULT JOB OPPORTUNITIES IN THE COUNTY, CARRY ON SCIENTIFIC RESEARCH FOR THE PURPOSE OF AIDING THE COUNTY BY ATTRACTING NEW INDUSTRY OR BY ENCOURAGING THE DEVELOPMENT OR RETENTION OF INDUSTRY IN THE COUNTY, LESSEN THE BURDENS OF GOVERNMENT AND ACT IN THE PUBLIC INTEREST.

profile · synthesized from sources

Nonprofit organization based in Albany, NY focused on reducing unemployment and promoting adult employment opportunities in Albany County. Engages in economic development activities such as attracting new industries and supporting the retention and growth of existing businesses. Operates with a mission to ease government burdens and serve the public interest through workforce and industry support initiatives.

named programs · 2 · from sources

What they call their work

Industry Attraction and Retention Program
Conducts research and outreach to attract new industries to Albany County and support the expansion and retention of existing businesses
Workforce Development Initiative
Program focused on reducing unemployment among adults in Albany County through job placement support, skills training, and employment retention services
activities · 2 groups

What they do

  • Regional Economic Development Initiatives 1 activity
    • Conducting research to support industry development and retention
      Conducts scientific research aimed at attracting new industry and supporting the growth or retention of existing industry in Albany County, contributing to regional economic development.
  • Workforce Readiness Training 1 activity
    • Promoting adult employment and reducing unemployment
      Works to relieve and reduce unemployment in Albany County by promoting adult employment and maintaining job opportunities, with a focus on workforce development and local economic stability.
financials · form 990 · fy2024
revenue
Total revenue$2.66M
Contributions & grants$1.46M55%
Program service revenue$1.04M39%
Investment income$126K5%
Other revenue$36K
expenses
Total expenses$1.52M
Program expenses92%
Admin / overhead8%
Fundraising0%
Salaries & benefits$700K
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$6.12M
Cash$4.80M
Investments$0
Liabilities$4.16M
Net assets$1.96M
Liquid reserves37.8 mo
5 years on record · 2020–2024 · YoY revenue +139.8%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 3
NameTitleHours/wkCompensation
KEVIN CATALANO SR VICE PRESIDENT / DIR. C 38 $152K
AMY THOMPSON CFO 38 $126K
KEVIN O'CONNOR CEO 1 $57K
board members · 9
  • ALAN ALEXANDER — TREASURER
  • ALAN GOLDBERG — CHAIRMAN
  • DAN MCCOY — EX-OFFICIO
  • HELEN BROOKS — MEMBER
  • JOANNE CUNNINGHAM — EX-OFFICIO
  • LAURA ZELLGER — MEMBER
  • MICHAEL CASSIDY — MEMBER
  • MICHAEL CINQUANTI — MEMBER
  • RICHARD ROSEN — OFFICER
relationships · 1

Who they work with

  • Albany County Government — Works in the public interest to support employment and industry in Albany County.
strategies · 1

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.